Short Interest in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) Decreases By 8.6%

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 24,300 shares, a decrease of 8.6% from the March 15th total of 26,600 shares. Approximately 2.0% of the company’s shares are short sold. Based on an average daily trading volume, of 145,700 shares, the short-interest ratio is currently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC grew its position in Cyclacel Pharmaceuticals by 25.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 770,400 shares of the biotechnology company’s stock worth $514,000 after purchasing an additional 155,200 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Cyclacel Pharmaceuticals by 6.5% in the fourth quarter. Millennium Management LLC now owns 208,062 shares of the biotechnology company’s stock valued at $139,000 after acquiring an additional 12,617 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Cyclacel Pharmaceuticals by 166.0% in the third quarter. Renaissance Technologies LLC now owns 167,600 shares of the biotechnology company’s stock valued at $245,000 after acquiring an additional 104,600 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Cyclacel Pharmaceuticals in the third quarter valued at about $98,000. Finally, HRT Financial LP purchased a new stake in shares of Cyclacel Pharmaceuticals in the fourth quarter valued at about $27,000. 23.58% of the stock is owned by hedge funds and other institutional investors.

Cyclacel Pharmaceuticals Stock Up 6.4 %

NASDAQ CYCC opened at $1.67 on Wednesday. The firm’s fifty day moving average price is $2.37 and its 200 day moving average price is $3.99. Cyclacel Pharmaceuticals has a 12 month low of $1.52 and a 12 month high of $13.20.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its earnings results on Tuesday, March 19th. The biotechnology company reported ($6.23) EPS for the quarter, beating analysts’ consensus estimates of ($6.35) by $0.12. The company had revenue of $0.03 million during the quarter. Equities analysts anticipate that Cyclacel Pharmaceuticals will post -18.7 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. StockNews.com began coverage on shares of Cyclacel Pharmaceuticals in a report on Tuesday. They issued a “hold” rating on the stock. Brookline Capital Management lowered shares of Cyclacel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, Roth Mkm raised their price objective on shares of Cyclacel Pharmaceuticals from $16.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, December 19th.

Cyclacel Pharmaceuticals Company Profile

Cyclacel Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases. The company's lead product includes fadraciclib, a cyclin dependent kinase Inhibitors (CDK) that is in Phase 1/2 clinical trial for the treatment of solid tumors, as well as in combination with venetoclax to treat relapsed or refractory chronic lymphocytic leukemia; and Plogosertib, a polo-like kinase inhibitor program, which is in Phase 1/2 clinical trial for the treatment of advanced leukemias and solid tumors.